Getting a $7500 personal loan is not that difficult. You can simply apply for a personal loan from banks, credit unions, or online lenders. If you don't have a good credit score, consider requesting loans through online brokers like iPaydayLoans which can partner you with reputable lenders offering bad credit personal loans up to $35,000.
Steps to Get a $7500 Personal Loan
The steps to get a $7500 personal loan may slightly vary from one lender to another, but the general steps involve the following:
- Check your credit score and financial situation such as income. This will help to come up with an idea of how much you should borrow and what APR you may receive on the loan.
- Get loan quotes from different lenders and compare their offers. Choose the one that suits you best and submit your application formally.
- Once approved, read the fine print carefully and sign the loan agreement.
- Wait and receive the funds in your bank account.
$7500 Personal Loan Alternatives
Apart from online personal loans, you may also consider the following sources of emergency cash for $7500:
Title loans
If you own a vehicle and hold a lien-free title with your name on it, you can apply for a title loan and get up to 30 percent of the value of your vehicle. Typically, you can expect to get cash as soon as the same day. But you must repay your loan on time to avoid losing your car.
Pawnshop loans
This is a good option if you have some items that are of good value such as pieces of jewelry. Pawnshops would generally lend you 25% to 60% of the value of the collateral. To get this type of loan, you may have to visit the physical pawn shop to finalize the loan.
Borrow Money from Loved Ones
Borrowing money from your loved ones can provide emergency funds and help you avoid borrowing at very high interest rates. However, if you don't repay the loan or take too long to repay it, your relationship could be harmed.